Tag: supply of service

Impact of GST on Manufacturers : Part 1

The “Make in India” campaign has provided a huge boost to India’s position on the world map as a manufacturing hub. According to Deloitte, India is expected to become the 5th largest manufacturing country in the world by the end of 2020. Are you GST…

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Get ready for GST with Tally.ERP 9 Release 6

49,100 total views, 112 views today

How to Determine the Value of Supply when Consideration is not in Money

Valuation of goods and services is an important aspect which determines the amount of tax to be levied. If goods and services are undervalued, it leads to short-payment of tax, leading to non-compliance and resultant legal implications. Overvaluation will result in loss of revenue for…

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Get ready for GST with Tally.ERP 9 Release 6

64,201 total views, 479 views today

How to Determine the Place of Supply of ‘Specific’ Services

We have discussed about the general rules for determining the place of supply of services in our earlier blog. Let us now understand how to determine the place of supply in case of certain specific services. Are you GST ready yet? Get ready for GST…

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Get ready for GST with Tally.ERP 9 Release 6

39,876 total views, 34 views today

What is Time of Supply for Services on Reverse Charge

In our previous blog, we discussed Time of Supply for Services under the Forward Charge Mechanism. Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay…

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Get ready for GST with Tally.ERP 9 Release 6

38,230 total views, 66 views today

What is Time of Supply for Services on Forward Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods. In this blog, we will discuss the Time of Supply on Forward Charge for Services. Are you GST ready yet? Get ready for GST…

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Get ready for GST with Tally.ERP 9 Release 6

26,679 total views, 31 views today

How to Determine Place of Supply for Services Provided at Immovable Properties

An immovable property is an immovable object, an item of property that cannot be moved without destroying or altering it. The property is fixed to the earth, for example, a piece of land or a house. In the current tax regime, taxable services provided in…

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Get ready for GST with Tally.ERP 9 Release 6

40,383 total views, 112 views today

How to Determine the Place of Supply of Services

In the current tax regime, the provision of a taxable service is subject to service tax.  Service tax is levied by the Central government and is applicable irrespective of whether the provision of service is interstate or intrastate. However, under GST, the place of supply…

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Get ready for GST with Tally.ERP 9 Release 6

50,552 total views, 197 views today

How to Determine the Place of Supply in Case of Bill to-Ship to Transactions

In the Bill to – Ship to model, the billing and shipping of goods are done to two states and entities. In order to avoid the cascading of multiple taxes through the course of the transaction, the first sale will be taxable, and any subsequent…

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Get ready for GST with Tally.ERP 9 Release 6

105,051 total views, 162 views today

How to Determine the Place of Supply When there is No Movement of Goods

1. When supply does not involve movement of goods, the location of the goods at the time of delivery to the recipient is the place of supply. For example: Rex Cars, whose registered place of business is Chennai, Tamil Nadu, opens a showroom in Mysore,…

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Get ready for GST with Tally.ERP 9 Release 6

45,593 total views, 242 views today

How to Determine the Place of Supply when there is Movement of Goods

In the previous blog, we discussed what is place of supply and why it is important to determine the place of supply. In the next few blogs, we will cover the parameters to determine the place of supply. Here, we will learn how to determine…

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Get ready for GST with Tally.ERP 9 Release 6

39,427 total views, 126 views today